BSNL and MTNL to offer broadband at Rs.500
New Delhi: The Government said that Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) would launch broadband services at a rate of Rs500 a month for 256 Kbps throughout the country starting on January 15.

While MTNL will launch the services in Delhi and Mumbai, BSNL will do it for Kolkata, Bangalore, Chennai and Hyderabad initially.

This was announced by the Communications and Information Technology Minister, Dayanidhi Maran, while addressing the first meeting of the Members of the Consultative Committee attached to his Ministry. The Department of Telecom is targeting around 10 million broadband service users by the year 2007.

Maran said that while competition was charging Rs3,000 a month for a 256 Kbps connection, the telecom PSUs have agreed to provide the same services at Rs500 a month.
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Ashok Leyland sets up logistics company
Chennai: Ashok Leyland Ltd has promoted a new Company Ashley Transport Services Ltd (ATSL) to provide information exchange and integrated logistic services to handle the business of freight contractors etc.

"These services are intended to enhance the customer relationships with transport operators which will support the long term business development for the company," Ashok Leyland has said in a notification to the Bombay Stock Exchange.
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Zee-Turner disconnects Asianet
Thiruvananthapuram: After ESPN Star blanked signals to Asianet Satellite Communications Ltd, leading channel distributor and marketer Zee-Turner has followed up similarly citing `large outstanding' from what is arguably Kerala's largest cable network operator.

The distribution arm of Zee Telefilms and Turner International India, Zee-Turner has switched off with immediate effect its bouquet of channels beaming to Asianet. This will mean that Kerala households connected through Asianet will not be able to watch popular channels such as Zee Cinema, Zee TV, Zee English, Cartoon Network, POGO, CNBC and ZMZ.

The Rajan Raheja-controlled Asianet is the leading service provider in the region for cable TV and Internet solutions. Its cable network services operate from over 40 centres throughout the State and touch over half a million homes and establishments.
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Tata Chem board nod to raise $ 150 m
Mumbai: Tata Chemicals Ltd (TCL) has informed that its board has approved the raising of additional long-term resources amounting to $150 million by issue of appropriate securities here or abroad.

"The proposed borrowing programme is mainly for the purpose of de-bottlenecking the Babrala plant and expansion programmes at Mithapur and Haldia. Further, domestic and international acquisition opportunities are also being explored,'' P.K. Ghose, Chief Financial Officer, TCL, said.
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TPM award for TVS Motor
Chennai: TVS Motor Company has been awarded the Total Productive Maintenance (TPM) Excellence Award - First Category by the Japan Institute of Plant Maintenance, a Unit of Japan Management Association (JMA).

In a brief ceremony held on Friday in Tokyo, C.P. Raman, President, TVS Motor Company, received the award, says a press release from the company.

"We rate TVS Motor Company - Plant 3 - Engine Components Division as the benchmark plant in India in TPM Excellence - First category," the auditors of JMA have been quoted as saying.
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Nirma to take over Core Healthcare
Ahmedabad: Following a memorandum of understanding to transfer management and assets, Core Healthcare Ltd, the Ahmedabad-based parenterals manufacturing company, will soon be taken over by detergent major Nirma Ltd.

In a tripartite deal, the Asset Reconstruction Company Ltd (Arcil), which had taken over 60 per cent of the liabilities of Core Healthcare, will work with other lenders of the company over the next three months to formulate the modalities of the transfer to Nirma.

"Nirma will make a one-time settlement to the lenders and clear other liabilities. Core Healthcare and Arcil have made the arrangement to maximise the realisation by lenders, provide shareholders a growth opportunity and to all other stakeholders of the company," a joint statement by Core and Arcil said on Thursday.

Senior Arcil officials declined to speculate on the final value of the deal, saying that the figures would be worked out in the next three months. Arcil had taken over nearly 60 per cent of the Rs 650-crore liability of the company.

Started in 1985 with an investment of Rs 4.5 crore, Core Healthcare grew at a 75 compound annual growth rate between 1988 and 1995 and at its peak, the company had a market capitalisation in excess of Rs1,500 crore.
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Nicholas PiramaI to acquire inhalation anaesthetics business
Mumbai: Pharma company Nicholas Piramal India Ltd (NPIL) will acquire the global inhalation anaesthetics (IA) business of Rhodia Organique Fine Ltd (Rhodia), UK. The acquisition to be made for a consideration of $14 million (Rs61.5 crore) will give NPIL a growth platform in the global hospitals and critical care business.

In a communication to the BSE, the company said that its board of directors had, in a meeting on Friday, approved the acquisition. The business, which clocked a sale of an estimated Rs61 crore in 2003, would strengthen NPIL's presence in the niche global IA market.

The acquisition also gives NPIL access to the manufacturing technology and facilities, as well as the global sales and marketing rights for two IA products - Halothane and Isofluorane. NPIL already has a presence in the IA segment through its acquisition of Halothane from ICI Pharma in 2002.

NPIL will gain access to Rhodia's sales and marketing network of exclusive pharma distributors in over 90 countries - including the US, Europe, Japan, Australia and numerous emerging markets, the company communiqué said. However, top brass told analysts that NPIL was not acquiring the manufacturing facility, land and employees supporting the business.

NPIL will seek to relocate production and manufacture both Rhodia's IA products in India, at its bulk drug facilities in Chennai and Hyderabad, a company official said.
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NatSteel shareholders okay sale
Mumbai: The shareholders of NatSteel have approved the sale of its steel business to Tata Steel at an EGM in Singapore on Wednesday.

"We are happy that the shareholders of NatSteel have reposed their faith in Tata Steel, its management policies, practices and values. We look forward to working with the employees of NatSteel towards a mutually beneficial future,'' Mr B. Muthuraman, Managing Director, Tata Steel, said in a statement on Thursday.
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HCL Tech to go ahead with stock option plan
New Delhi: HCL Technologies on Friday approved a grant of up to two crore options to the directors and employees of the company and its subsidiaries. As each option can be exercised for two fully paid-up equity shares of Rs2 each, it would mean issuing four crore new shares in addition to the company's existing 31 crore shares.

A senior company official said the new options are being granted as per HCL Technologies' 2004 stock option plan and are targeted at the directors and the middle management. "We are using it as a tool to retain our experienced employees," the official said.

The new plan was approved by shareholders at the company's AGM on Friday.

HCL Technologies had over the last month alone announced two rounds of allotment of 4,76,032 shares to employees in exercise of their earlier 1999 and 2000 stock option plans.
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Hyundai to make handsets in India
New Delhi: Hyundai India Telecom Ltd (HIT) has said that it will set up a handset manufacturing unit and a research & development hub in India with an investment of $50 million (around Rs220 crore) over the next five years. The manufacturing plant will make the entire range of mobile handsets in both the GSM and CDMA technologies.

The company said that 50 per cent of the production would be exported to markets in Asia and SAARC regions.
The production facility with five assembly lines will have a capacity of 4,000 handsets daily and an annual capacity of 12 lakh phones in the first year and can be scaled up to triple the capacity depending on the demand.

The R&D centre will cater to the company's entire global requirements and focus on hardware technology research as well as software development.

"The company plans to invest around 3 to 5 per cent of its turnover towards R&D," Mr Singh said.

Nokia, Samsung and LG have already announced plans to also set up plants in India to meet the demand in the world's fastest-growing wireless market.

Nokia has said it would invest between $100 million and $150 million over four years, while LG is expected to invest around $60 million to manufacture handsets here.
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Reliance Info unveils new FWP plan
Bangalore: Reliance Infocomm has announced a new plan for its fixed wireless phone (FWP) offering unlimited free calls to Reliance phones anywhere in the country. The new plan will be applicable for both pre-paid and post-paid FWP.

The FWP also comes with a cordless phone handset and the entry cost has been fixed at Rs4,300, which includes the installation charge of Rs800 and a deposit of Rs1,000. The package includes a pre-loaded talk time of Rs50, initially. However, existing subscribers would have to pay the difference in cost for upgradation to the cordless phone set.
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